Eastern Asia: Ferro-Silicon Market 2024

Ferro-Silicon Market Size in Eastern Asia

The East Asian ferro-silicon market reduced to $X in 2022, which is down by -9.6% against the previous year. Over the period under review, consumption saw a abrupt slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Ferro-Silicon Production in Eastern Asia

In value terms, ferro-silicon production reduced slightly to $X in 2022 estimated in export price. Overall, production showed a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 16%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ferro-Silicon Exports

Exports in Eastern Asia

In 2022, overseas shipments of ferro-silicon increased by 38% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +184.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 107%. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, ferro-silicon exports soared to $X in 2022. Over the period under review, exports posted a noticeable expansion. The growth pace was the most rapid in 2021 with an increase of 231% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

The biggest shipments were from China (X tons), together reaching 98% of total export.

China was also the fastest-growing in terms of the ferro-silicon exports, with a CAGR of +2.9% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest ferro-silicon supplier in Eastern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +5.0%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, remaining stable against the previous year. Export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-silicon export price increased by +61.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 60%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +2.0% per year.

Ferro-Silicon Imports

Imports in Eastern Asia

In 2022, the amount of ferro-silicon imported in Eastern Asia shrank to X tons, reducing by -11.4% on the previous year. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 50% against the previous year. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, ferro-silicon imports expanded to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +115.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 106%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Japan was the major importer of ferro-silicon in Eastern Asia, with the volume of imports amounting to X tons, which was approx. 58% of total imports in 2022. South Korea (X tons) ranks second in terms of the total imports with a 28% share, followed by Taiwan (Chinese) (12%). China (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ferro-silicon imports into Japan stood at -1.1%. At the same time, China (+10.5%) and South Korea (+2.1%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +10.5% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. From 2012 to 2022, the share of South Korea increased by +5.4 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported ferro-silicon in Eastern Asia, comprising 71% of total imports. The second position in the ranking was taken by South Korea ($X), with a 20% share of total imports. It was followed by Taiwan (Chinese), with a 7.1% share.

In Japan, ferro-silicon imports increased at an average annual rate of +3.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+1.4% per year) and Taiwan (Chinese) (-1.3% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, picking up by 18% against the previous year. Import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-silicon import price increased by +62.4% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 38%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :